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/ 1 February 2005

JSE rallies to new high as rand slumps

The JSE Securities Exchange (JSE) raced to a record high of 12 904,090 on Tuesday morning when a weaker rand fuelled a rally in heavyweight resources stocks. The currency had the opposite effect on banks, which led the market’s downside. At 11.59am, the all-share index was up 0,52% at 12,865,220.

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/ 1 February 2005

SBC to acquire AT&T for $16-billion

The purchase of AT&T by SBC Communications saves AT&T from a nosedive into irrelevance in the industry it created more than a century ago. It also gives SBC the name and the network to fulfill its goal of being viewed as a truly national player rather than just a local telephone company.

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/ 1 February 2005

Els is not scared of Woods

Ernie Els says golf technology and a more competitive tour means Tiger Woods won’t be as dominant as he once was. ”Everybody has become better players; technology has brought everybody closer together,” Els said on Tuesday at the Heineken Classic, where he begins play on Thursday trying for his fourth win in a row at Royal Melbourne.

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/ 1 February 2005

R1,2-million for Parliament’s opening bash

The opening of this year’s session of the South African Parliament by President Thabo Mbeki next week, on Friday February 11, is set to cost about R1,2-million, according to the government news agency BuaNews. It is "to be a spectacular affair, with South Africans from all walks of life expected to grace the event".

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/ 1 February 2005

Zimbabwe banking group faces legal challenge

A brand-new umbrella grouping of collapsed Zimbabwean banks got off to a rocky start after one of its partners went to court to try to break free from the new banking group, a daily newspaper said on Tuesday. The Royal Bank filed a suit in the Harare High Court on Monday against a central bank decision to place it under curatorship.